EUR/CHF Potential Upward Movement

EUR/CHF Long-Term Trend: Bullish

Key Resistance Levels: 1.0425, 1.0482, 1.0539

Key Support Levels: 1.0373, 1.0327, 1.0243

Daily Chart:

The price on the higher time frame has been consolidating for some time after a bearish run. The pair has formed a higher-low pattern and it has broken the upper trendline. There are rejection wicks seen which indicates a trend reversal. 

EUR/CHF Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price was trading in a range between 1.0327 and 1.0243 for some time and the upper range was broken recently. It has now broken a minor level of 1.0373 and retested before continuing the momentum.

Signal Idea:

Buy Limit Order @ 1.0394

TP 1 @ 1.0422

TP 2 @ 1.0478

Stop Loss @ 1.0366

Trade Safely 🙂